- June 15, 2021
- Posted by: Stratford Team
- Category: Business
Small business loan approval percentages at big banks ($10 billion+ in assets) climbed slightly from 13.4% in April from 13.5% in May 2021, according to the latest Biz2Credit Small Business Lending Index. Small banks’ approvals jumped higher from 18.2% in April, to 18.7% in May.
Bank vault (Photo by © Viviane Moos/CORBIS/Corbis via Getty Images)
Corbis via Getty Images
Loan approvals by small banks rose 0.3% as banks start to assess the favorable economic conditions that are beginning to emerge as lockdowns ease and more and more people receive a Covid-19 vaccine. Pent-up demand from consumers is an attractive narrative for small business owners to use as part of their justification for applying for financing. Banks, especially smaller community and regional institutions, are taking notice of this trend as they begin to open up their lending operations to the post-pandemic reality.
Next month’s lending figures will be more…
